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. Last Updated: 07/27/2016

IMF Says Baku Could Get Credits If It Meets Conditions

A senior IMF official said Azerbaijan could be granted credits early next year if it fulfilled certain conditions in economic reform, Turan news agency said.

John Odling-Smee, head of a visiting International Monetary Fund delegation, was quoted Tuesday as saying Azerbaijan had good economic potential not just from oil but in agriculture, as well as a high level of education and a flourishing private sector. "If reforms are carried out along the lines suggested, then the IMF can grant financial help to Azerbaijan in the first quarter of 1995," he said.

He said the Azeri government should be involved as little as possible in organizing external trade and that the government's various hard-currency accounts should be consolidated into one under the control of the Central Bank.